What year do I begin depreciation for beneficiary of inherited farm assets?

[dmj4]

I am trying to determine what date (year) to begin depreciation for the beneficiaries on farm equipment. This is not a stepped-up basis question.

There was no trust. The farm equipment was listed in the will to go to the named beneficiaries. The beneficiaries are his adult children and they were also the executors. The estate had no debts. The estate did not have enough income to require filing a 1041. There was no need to file a 706.

The decedent died on October 31, 2022. The estate closed on April 6, 2023.
The equipment was available for use and the date actually used was the date of death.

What date would you begin depreciation on beneficiaries' 1040? They have always farmed, too.

Thanks!

[TaxGuyBill]

My first guess it depends on the State laws, and if went through probate.

Unless there was something holding up the transfer of ownership, I would think it likely became owned by the beneficiaries in 2022. But that may be a question for the Estate attorney.

[dmj4]

It did go through probate and I discovered the estate paid for repairs and insurance on equipment through February 2023, so now I believe distribution would have occurred after that. Also, there is a 4-month period for estate creditors to come forward.